Friday’s choppy action was unsurprising as the refined products exhausted themselves on Wednesday and Thursday. After a quiet start to the week, RBOB gasoline shot up 13 cents and up HO 10 cents while Brent Crude popped $4. Interestingly, June WTI closed DOWN for the week as we saw the June Brent/WTI spreads widen to over $8. Last […]
Crude oil bulls had a brilliant day on Thursday, with the oil complex posting strong gains. Brent crude finished at $64.83while WTI closed at $57.66. With the market sailing above the 100-day MA last week, a review of the continuation chart gives a perspective on what the bulls might be targeting in the longer term. […]
It appears shoulder season is coming to an end in the natural gas markets. NOAA’s 6-10 and 8-14 forecasts are showing above normal temperatures for the western half of the nation. These temperatures have the chance of shifting east giving the US its first taste of summer. Shoulder season is a time during the spring […]
Oil futures closed lower on Tuesday. June WTI finished the day down $1.26 at $56.62 a barrel while June Brent settled at $62.08 down $1.37 on the day. After being up each day last week and making new highs for the year, oil has been consolidating these gains early this week due to a lack […]
Market Overview: Gasoline Current demand has climbed to a robust 9 million bpd which is 3.2% higher than the three year average At 9.84 million barrels per day, soaring U.S. gasoline production is a whopping 10.6% higher than the three year average As of this report, the NYMEX spot gasoline price is at $2.99/gal which is 7.6% below […]